[sunnysidegal]

Hi!
On 9/4/08, I received a collection letter (from a law firm)for credit card debt I admit I owe, maybe not as much, I think they have tacked on $1,000.00 in fees. They offered me a settlement for a little over half but they want it in 2 weeks. I paid $1,000.00 already but will not be able to get the rest of the money in until the end of next month. Will they sue? How long before I have to go to court? I'm in NC, I have heard they cannot garnish my income, can they take my house or attach my bank accounts for such a low amount?
ANY help appreciated!
Susie

[ATYOURSERVICE]

Laws vary from state to state, but they can sue and get a judgment. Once that happens they can place a lien on your property and garnish wages. The tacking on interests and fees is legal. If you have made a good faith payment, call the law firm and ask for some time to pay it. It's only a two week time difference. Also they must send you something in writing settling the case for 50% and that you will not be held liable for any additional fees or amounts. MAKE SURE you get it in writing. If you don't the settlement is not legal and they can go after you for the difference.

[ATYOURSERVICE]

Looks like you may be correct

Wage Garnishment and Bankruptcy Exemptions -- North Carolina
WAGE GARNISHMENT EXEMPTION: All of last 60 days earnings needed for family's support; garnishments not granted to general creditors (only for government services and taxes)


MAXIMUM INTEREST RATE: Legal: 8% Judgment: 8%


STATUTE OF LIMITATIONS ON ENFORCEMENT:


Open Account (credit card): 3 years
Sale of Goods: 4 years
Written Contract: 3 years
Domestic Judgment: 10 years
Foreign Judgment: 10 years